HGV registrations suffer first fall in two years

New data has revealed that registrations of new heavy good vehicles fell for the first time in two years, decreasing by 3.9% in the first quarter of 2024.

Figures from the Society of Motor Manufacturers and Traders (SMMT) found that 11,068 new HGVs were sold between January and March, 449 fewer than the same period in 2023.

Zero emission vehicles

Meanwhile, zero emission vehicle uptake rose from 0.3% of all registrations to 0.5%, and while this is low in comparison with the car and van markets it is an improvement of 56.3% in volume terms on last year. Hindering growth is a lack of operator confidence in the grant system, which is lengthy and restrictive, as well as a dearth of dedicated HGV charging points.

Mike Hawes, SMMT chief executive, said:

“The truck sector currently stands steady, with just a small decline in uptake compared with a very strong quarter last year. Following two solid years of market growth, however, more action is needed to sustain green fleet renewal to decarbonise UK road transport. Zero emission truck uptake remains a fractional part of the market but, with just over a decade until the first phase of the end of sale of fossil fuel HGVs, operators need inspirational incentives and infrastructure provision to accelerate their investments.”